Sembcorp Development, a Singapore-based renewables firm, has received investment approval for the proposed development of a 90MW AI-ready data center in Saigon Hi-Tech Park (SHTP) in HCMC through a joint venture, the firm says in a press release last week. The approval was granted to a joint venture firm, StarMason Joint Stock Company (StarMason) owned by Sembcorp (49%) and a Vietnamese conglomerate, BB Holdings. The partnership combines Sembcorp’s track record in industrial and infrastructure development with BB Holding’s more than 30 years of experience in large-scale integrated urban projects across Vietnam.
With the approval, StarMason will proceed with the development planning of the Tier III-Uptime classified data center campus on a 4.5-hectare site. No investment figure was mentioned in the statement.
“Vietnam’s digital economy is accelerating at an unprecedented pace, fuelled by cloud adoption and advancement in AI. This investment approval is a key milestone that allows Sembcorp to contribute its development expertise in support of high‑performance infrastructure for hyperscalers and AI‑driven businesses,” said Lee Ark Boon, CEO of Sembcorp Development.
Saigon Hi-Tech Park is Ho Chi Minh City’s leading innovation ecosystem and is one of Vietnam’s premier high-tech parks.